Village at Westland Cove
Multifamily property in Knoxville, TN — sponsored by Capital Square
Files with the SEC as CS1031 Village at Westland Cove Apartments, DST
Minimum investment
$50k
Offering size
$52.8M
How much has sold
None sold yet
Asset type
Multifamily property
Location
Knoxville, TN
Financing
Not stated. The filings for this offering do not say whether it carries mortgage debt.
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
Village at Westland Cove is a Delaware Statutory Trust — a passive co-ownership vehicle that qualifies for 1031 exchange money — sponsored by Capital Square and holding a Class A apartment community completed in 2019 in Knoxville, Tennessee.1 It was offered under Rule 506(c), which allows public advertising so long as every buyer's accredited status is verified. Capital Square's portfolio page now lists the offering as closed.3
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These links support the historical public record; individual details may come from different sources.
On a 45-day clock? Find day 45 and day 180 from the sale date, then come back to this record.
What exactly is the property?
The community stands at 9635 Westland Cove Way, off Interstate 140 on the shore of Fort Loudoun Lake in west Knoxville, Tennessee.2 Capital Square announced on June 6, 2022 that it had acquired the Class A garden-style property, completed in 2019, on behalf of this Trust.2 Knox News later listed the purchase as an $87 million deal recorded on May 24, 2022 — an independent account rather than a primary record.4
- Reported location
- Knoxville, TN
- Property size
- 240 units; 28.2 acres; average unit size 1,147 sq. ft.; floorplans up to 1,521 sq. ft.
Who is the tenant, and what's the lease?
Apartment residents sign ordinary short-term leases; the Trust itself leases the whole property to a master tenant, and Capital Square states that beneficial owners must rely completely on that master tenant to collect rent and to operate, manage, lease and maintain the property.1 No retrieved public source names the master tenant or the property manager.
How did it end?
No sale or other ending on record
No public full-cycle sale, disposition, or UPREIT conversion announcement naming CS1031 Village at Westland Cove Apartments, DST was found; the $47M Cushman & Wakefield sale of the property (November 2020) occurred before the DST was formed in June 2022 and therefore reflects the prior sale to StoneRiver rather than a DST exit.
The 240-unit Class A luxury/garden-style multifamily community was completed in 2019 on 28.2 acres along Fort Loudoun Lake; StoneRiver reports average units of 1,147 sq. ft. and floorplans up to 1,521 sq. ft. Capital Square acquired it for the DST offering on June 6, 2022, which sought $52.8 million in equity and had a $50,000 minimum investment.
240 units; 28.2 acres; average unit size 1,147 sq. ft.; floorplans up to 1,521 sq. ft.Supporting evidence
How is it financed, and what does it pay?
Capital Square's offering materials describe assumable financing — the existing mortgage carried forward on its original terms — plus a supplemental loan to be obtained at closing.1 No dollar amount of debt appears in the sponsor materials or the SEC record, so the Trust's leverage level is not established publicly.
Who's behind it?
Capital Square Realty Advisors sponsored the Trust and named itself the acquirer of the community in its June 6, 2022 announcement.2 The firm runs a broad 1031 exchange DST platform alongside its other real estate programs. Its portfolio page now lists this Trust among closed offerings, without attaching a sale date, price or full-cycle result to it.3 No dated sale, exit or other material event for this Trust surfaced in public sources through August 2026.
- Sponsor
- Capital Square
- Legal Trust name
- CS1031 Village at Westland Cove Apartments, DST
- May convert to a REIT
- No
- Offerings from this sponsor
- 8 active / 28 total offerings from Capital Square
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
The Trust's SEC record consists of the initial Form D — the short notice a private placement files after its first sale — lodged two days after Capital Square announced the acquisition, with no amendment ever following.2 Rule 506(c) let the sponsor market the offering publicly, provided each investor's accredited status was verified.
- Form D filedFirst and latest filing on record.
- Filings on record
- 1
- How it may be offered
- Rule 506(c)May be advertised publicly. Every buyer’s accredited status must be verified.
- Source filing
- Read the filings on SEC EDGAR
A Form D is the notice a sponsor files when it starts raising money. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
DST interests are illiquid private securities. You may lose some or all of your investment. Distributions, tax treatment, and exit timing are not guaranteed. Review the current Private Placement Memorandum before investing.
Common questions
What happened to Village at Westland Cove?
Top1031 lists Village at Westland Cove as historical. It is no longer raising money.
Where does Top1031 get the data for Village at Westland Cove?
Top1031 builds this record from the sponsor’s own SEC filings and cited sponsor disclosures. Filings can lag what is happening now. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
Can I still invest in this Trust?
No. Capital Square's portfolio page lists Village at Westland Cove Apartments, DST among its closed offerings, and the SEC record shows no filing activity after the initial Form D of June 8, 2022.[3] Closed to new investors means the sponsor is no longer accepting exchange money into this Trust; interests can generally only change hands through a private transfer the trustee permits, if at all.
What was the minimum investment?
Capital Square's June 6, 2022 acquisition release stated a $50,000 minimum investment for accredited investors — those meeting the SEC's income or net-worth tests.[2] The same minimum appears in the Trust's Form D.
How was the property financed?
Capital Square's offering page states the offering featured assumable financing at a 2.60% interest rate maturing in November 2030, and that the sponsor would obtain a supplemental loan at closing.[1] No debt dollar amount is disclosed in the sponsor materials or the SEC filing, so the loan-to-value cannot be established from public sources.
Who runs the apartments day to day?
The Trust does not operate the property itself. Capital Square's offering page states that the master tenant collects rent and operates, manages, leases and maintains the property, that beneficial owners must rely completely on it, and that the sponsor is under no obligation to contribute capital to the master tenant.[1] No public source retrieved names that master tenant or the on-site manager.
Is there a 721/UPREIT exit?
Nothing in the SEC record or Capital Square's materials for this Trust indicates a planned 721 exchange — a contribution of the property to a REIT's operating partnership in return for OP units instead of cash. The data here records no REIT conversion feature for this offering.
Has the property been sold?
No sale, exit or full-cycle result for this Trust was located in public sources through August 22, 2026. Capital Square's portfolio page marks the entry closed but attaches no sale date, sale price or return to it.[3] No outcome reported yet.
Chapter 9Capital Square Acquires Multifamily Community in Knoxville, Tennessee, for DST OfferingCapital Square announced its acquisition of Village at Westland Cove for CS1031 Village at Westland Cove DST, seeking $52.8 million in equity with a $50,000 minimum investment.